Mar 20, 2013 7:00pm PDT
to the next war. [cheers and applause] but the republicans -- but the republicans would only raise the debt ceiling if the president promised later spending cuts. if those were not passed by an arbitrary date, it would trigger the sequester, a doomsday scenario designed to cripple programs that both sides love. the democrats would see damaging reductions in education, national parks, vaccination programs, food inspection, even the national zoo while republicans would see cuts to everything they hold dear like the military. [laughter] the point is -- [cheers and applause] -- if the two sides failed to come to a compromise in march 2013 would come in likeÑi a lion and go out like a lion loose from the unguarded national zoo. it was a good plan as long as one of the sides didn't forget that it was a horrible plan. >> you know, look, we're talking about $85 billion.Ñi we borrow $85 billion every three days. this is three tenths of 1% of g.d.p. it's two cents on the dollar. >> the federal government is highly inefficient. it could use a 5% or 10% cut. >> stephen: that is a courageous stance by
Mar 20, 2013 8:00pm EDT
. surely we won't go back on the promise we made in 2011 when we raised the debt ceiling. but anyway, this is what the associated press said about it, because the democrats want to restore $1.2 trillion in automatic spending cuts over the same period, cuts imposed by washington's failure to reach a broader budget pact. they couldn't reach an agreement so these automatic cuts occurred. murray's blueprint increases spending. you take the $1.2 trillion there and you have taxes increases over here, but the increases in spending are greater than the taxes, and they conclude that it increases spending overall. increases spending overall. while the chairman and, i guess, the budget committee members who support this want to assert that somehow this is a one-for-one budget, a balanced plan, a balanced budget. you've got $1 trillion in tax increases and $1 trillion in spending cuts. but they're not there. now, this chart is a very important chart on the subject i'm talking about. it's, i believe, pretty much not disputed. disputable. and i hate to raise this, but i'm not going to take it. mr.